Policy

Not yet Uhuru for Oando as SEC continues forensic audit
Policy

Not yet Uhuru for Oando as SEC continues forensic audit

Despite the suspension of Mounir Gwarzo on corruption allegations, the Securities and Exchange Commission, SEC, said it will push ahead on the forensic audit of Oando Plc. Prior to his suspension, Mounir Gwarzo was championing the forensic audit of Oando Plc after some of the company’s major shareholders petitioned the […]

Moody’s raises concerns on Nigeria’s credit profile
Policy

Moody’s raises concerns on Nigeria’s credit profile

Credit rating giant has raised concerns about Nigeria’s credit profile and how it is currently being buoyed by an increase in oil prices. Moody’s said Nigeria’s (B2 stable) credit profile is constrained by the continued exposure of the sovereign balance sheet to shocks, weak institutions and elevated deficits, Moody’s Investors […]

Fitch Ratings gives ‘B+’ to Nigeria’s debt notes
Policy

Fitch Ratings gives ‘B+’ to Nigeria’s debt notes

Fitch Ratings has assigned Nigeria’s USD1.5 billion 6.500% senior unsecured notes due 28 November 2027 and USD1.5 billion 7.625% senior unsecured notes due 28 November 2047 the final rating of ‘B+’. The final rating replaces the expected rating of ‘B+(EXP)’ that Fitch assigned on 15 November 2017. KEY RATING DRIVERS […]

Nigeria’s inflation falls to 15.91% in October
Ination

Nigeria’s inflation falls to 15.91% in October

The National Bureau of Statistics, NBS, said Nigeria’s headline inflation for October fell slightly to 15.91%. The downward trend in inflation for the month of October is, however, slower compared to 15.98% disclosed for the month of September. Nigeria is Africa’s largest economy by gross domestic product. The country has […]

Nigeria targets inflation rate of 12.4% for 2018
Policy

Nigeria targets inflation rate of 12.4% for 2018

Africa’s largest economy, Nigeria, said it is targeting about 12.4% inflation rate for the year 2018. The latest projection was stated in the budget presentation for 2018 as presented to the joint committee of the National Assembly by President Muhammadu Buhari. The government also targets to earn about NGN4.1 trillion […]

Nigeria, ECOWAS, World Economies Adopt Abuja Statement
Policy

Nigeria, ECOWAS, World Economies Adopt Abuja Statement

Nigeria, the Economic Community of West African States (ECOWAS), World Trade Organisation (WTO) Friends of Investment Facilitation for Development (FIFD) and participants at the High Level Policy and Private Sector Trade and Investment Facilitation Partnership Forum today adopted a declaration titled “The Abuja Statement” at the close of the two-day […]